Success as an entrepreneur requires bringing solutions to market, and too many startups today are really just solutions in search of a problem.
Every year, Inc. speaks with industry experts and crunches the latest data to identify areas of the economy that are primed for new entrants. See which sectors are welcoming tomorrow’s fastest-growing startups:
• Clean water services—Managing and monitoring drinking water quality is a significant opportunity for entrepreneurs who can protect public health by delivering solutions at scale. Companies in this sector are also working on developing new sources of drinkable water.
• Gender-neutral personal care—A growing group of startups are now making moisturizers, deodorants, shampoos, fragrances, and other products that lead with their ingredient lists and don’t target a particular gender.
• Gun violence prevention—In the wake of mass shootings, businesses, schools, and other organizations are investing in security consultants and technology to help prepare for the unthinkable.
• Healthier junk foods—Healthy diets are all the rage, but Americans still crave chips and cookies. As a result, companies are inventing new kinds of packaged foods made with minimally processed fruits and vegetables, as well as snacks that mimic the taste and texture of popular junk foods.
• Next-wave logistics—Third-party logistics companies only recently began crunching data to drive greater efficiencies. The industry’s increased reliance on automation has helped create opportunities for software companies that can match shippers with trucks and optimize the movement of freight, among other services.
• Pet wearables—Growing awareness about pets’ physical and mental health is driving demand for wellness data on animals, while GPS tracking devices are becoming increasingly popular.
• Space technology—America’s private space industry is booming thanks to the declining costs of sending rockets to space and the increasing availability of launch vehicles. While the U.S. government is one of the world’s largest procurers of satellite data, Earth imagery taken by satellites will soon be in high demand from farmers, first responders and scientists.
• Sustainable consumer goods—A wave of high-tech startups and innovative consumer-goods brands are developing reusable, recyclable and compostable alternatives for a range of household products.
Read the full story from Inc. magazine, which includes market information, barriers to entry and other challenges and benefits for each sector.
